Sekisui House has reported “significant” attention and investment to its masterplanned community in the south-west of Sydney.
After a multi-billion dollar investment in both regions, the company’s 320 hectare community located in Gledswood Hills, The Hermitage, has experienced an increase of home buyers to the south-west, leading to a debate amongst house hunters between the north-west versus the south-west of Sydney.
The north-west region, covering suburbs such as Penrith, The Hills, Blacktown and Parramatta, has experienced a slow evolution of residential development over the past 15 to 20 years, while in the south-west of Sydney, including suburbs such as Liverpool, Camden and Campbelltown-Macarthur, “is relatively new in comparison”.
“The south-west growth area has ramped up its investment activities within the last five to 10 years with many fast emerging new suburbs, including Gledswood Hills, Oran Park, Edmondson Park, Leppington and Gregory Hills,” said Craig Barnes, estate sales and customer relations manager, development and communities for Sekisui House.
“The Western Sydney City Deal, an agreement between the NSW and Commonwealth governments that was announced late last year, has helped fuel additional investment in the south-west [and] Gledswood Hills and its surrounding suburbs are strategically placed within the epicentre of this activity.”
Mr Barnes added that with Sydney’s house prices continuing to rise, savvy house hunters were looking for lifestyle choices and future growth potential, and that new homes within south-west growth regions were “proving to be a popular choice for all purchaser demographics”.
“Last year, we started to witness a spike in enquiries from prospective purchasers residing in the north-west, planning to relocate to the south-west, [with] price, lifestyle opportunities and future growth of the region [as the] key drivers for the shift,” he noted.
In comparison to their north-west counterparts, Sekisui also found that new home prices in several key areas in the south-west represented better value for money.
“For example, a double storey four-bedroom home in Gledswood Hills on an average 450-square-metre block is selling for around $800,000, whilst a similar new home in Kellyville is valued at over $1 million,” Mr Barnes said.
“With the commitment to future infrastructure projects, employment opportunities and the development of Badgerys Creek Airport, emerging new suburbs within the south-west could be deemed as attractively priced when compared to parts of the north-west.”
Mr Barnes concluded by saying that despite the growing popularity of the south-west region, there were still opportunities for prospective buyers to purchase in the region.
“The south-west growth region is primed for continued expansion,” he said.
“There are still many opportunities to purchase a new home within these ever-expanding new suburbs such as Gledswood Hills, but this is set to change as more people discover the future opportunities within this area.”